AeroVironment Receives $11.1 Million Order for RQ-11B Raven Small Unmanned Aircraft System Contractor Logistics Support

MONROVIA, Calif.--(BUSINESS WIRE)--AeroVironment,
Inc. (NASDAQ:AVAV) today announced it received a new $11,095,872
cost-plus-fixed-fee sole source contract award on March 1, 2012 from the
United States Army. The order comprises Army, Marine Corps and Foreign
Military Sales contractor logistics support for Raven systems. The
logistics support services are scheduled to be delivered through Feb.
28, 2013.

“The Raven system continues to be an important asset
for U.S. and allied armed forces.”

“AeroVironment’s UAS logistics operation supports systems deployed
worldwide to ensure a consistently high level of operational readiness,”
said Tom Herring, senior vice president and general manager, Unmanned
Aircraft Systems. “The Raven system continues to be an important asset
for U.S. and allied armed forces.”

The RQ-11B Raven unmanned aircraft system comprises a 4.2-pound,
backpackable, hand-launched sensor platform that provides day and night,
real-time video imagery wirelessly to a portable ground control station
for "over the hill" and "around the corner" reconnaissance, surveillance
and target acquisition in support of tactical units. U.S. armed forces
use Raven systems extensively for missions such as base security, route
reconnaissance, mission planning and force protection. Each Raven system
typically consists of three aircraft, two ground control stations and
spares.

About AeroVironment’s Family of Small UAS

RQ-11B
Raven®, Wasp™,
Puma
and Shrike
VTOL™ comprise AeroVironment’s Family of Small Unmanned Aircraft
Systems. Operating with a common
ground control system (GCS), this Family of Systems provides
increased capability to the warfighter that can give ground commanders
the option of selecting the appropriate aircraft based on the type of
mission to be performed. This increased capability has the potential to
provide significant force protection and force multiplication benefits
to small tactical units and security personnel. AeroVironment has
delivered thousands of new and replacement small unmanned air vehicles.
International purchasers of AeroVironment’s small UAS include the armed
forces of Italy, Denmark, the Netherlands, Spain, France, Norway, the
Czech Republic, Thailand and Australia.

The Qube™
small UAS is tailored to law enforcement, first response and other
public safety missions. Small enough to fit easily in the trunk of a
car, the Qube system can be unpacked, assembled and ready for flight in
less than five minutes, giving the operator a rapidly deployable eye in
the sky at a fraction of the cost of manned aircraft and large unmanned
aircraft.

About AeroVironment, Inc.

AeroVironment is a technology solutions provider that designs, develops,
produces, operates and supports an advanced portfolio of Unmanned
Aircraft Systems (UAS) and electric transportation solutions.
Agencies of the U.S. Department of Defense and allied military services
use the company’s electric-powered, hand-launched
unmanned aircraft systems extensively to provide situational
awareness to tactical operating units through real-time, airborne
reconnaissance, surveillance and communication. Multiple government
agencies have helped to fund the development and demonstration of Global
Observer, a hybrid-electric, stratospheric UAS designed to provide
affordable, persistent reconnaissance and communication over any
location on the globe. Switchblade
is a loitering munition designed to provide a rapid, lethal, pinpoint
precision strike capability with minimal collateral damage.
AeroVironment’s electric transportation solutions include a
comprehensive suite of electric
vehicle (EV) charging systems, installation and data services for
consumers, automakers, utilities and government agencies, power
cycling and test systems for EV developers and industrial
electric vehicle charging systems for commercial fleets. More
information about AeroVironment is available at www.avinc.com.

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statements" as that term is defined in the Private Securities Litigation
Reform Act of 1995. These statements are made on the basis of current
expectations, forecasts and assumptions that involve risks and
uncertainties, including, but not limited to, economic, competitive,
governmental and technological factors outside of our control, that may
cause our business, strategy or actual results to differ materially from
those expressed or implied. Factors that could cause actual results to
differ materially from the forward-looking statements include, but are
not limited to, our ability to perform under existing contracts and
obtain additional contracts; changes in the regulatory environment; the
activities of competitors; failure of the markets in which we operate to
grow; failure to expand into new markets; failure to develop new
products or integrate new technology with current products; and general
economic and business conditions in the United States and elsewhere in
the world. For a further list and description of such risks and
uncertainties, see the reports we file with the Securities and Exchange
Commission. We do not intend, and undertake no obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.